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Oil prices spike; U.S. agency says no rail shutdowns in Bakken oil fields

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Oil prices spike; U.S. agency says no rail shutdowns in Bakken oil fields
Grand Forks North Dakota 375 2nd Ave. N. 58203

WASHINGTON - No rail terminals have been shut down in the Bakken oil fields in North Dakota as a result of inspections, an official at the U.S. agency that oversees transportation of hazardous materials said on Friday.

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Oil prices briefly spiked earlier on Friday on rumors that several Bakken oil terminals may have been shut down following new federal rules requiring shippers to test all crude before it is carried by train.

Inspections in North Dakota by the U.S. Department of Transportation's Pipeline and Hazardous Materials Safety Administration "have not resulted in any rail terminal shutdowns," said the official at the federal agency.

It was not clear what the inspections involved or why they were conducted.

The oil-by-rail industry has come under scrutiny after a recent slew of fiery derailments involving crude oil from the Bakken region.

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